Cumberland Partners Ltd Has $1.34 Million Position in TELUS Co. (NYSE:TU)

Cumberland Partners Ltd trimmed its position in shares of TELUS Co. (NYSE:TU) (TSE:T) by 22.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 79,824 shares of the Wireless communications provider’s stock after selling 23,620 shares during the quarter. Cumberland Partners Ltd’s holdings in TELUS were worth $1,341,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. TD Asset Management Inc grew its holdings in TELUS by 3.0% during the 2nd quarter. TD Asset Management Inc now owns 41,711,861 shares of the Wireless communications provider’s stock worth $631,310,000 after acquiring an additional 1,208,720 shares during the last quarter. 1832 Asset Management L.P. grew its stake in shares of TELUS by 6.6% during the second quarter. 1832 Asset Management L.P. now owns 38,193,733 shares of the Wireless communications provider’s stock valued at $578,253,000 after purchasing an additional 2,365,753 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of TELUS by 2.6% during the first quarter. Vanguard Group Inc. now owns 23,436,455 shares of the Wireless communications provider’s stock valued at $375,218,000 after purchasing an additional 602,440 shares during the last quarter. CIBC Asset Management Inc raised its position in TELUS by 1.8% in the 2nd quarter. CIBC Asset Management Inc now owns 22,404,617 shares of the Wireless communications provider’s stock worth $338,953,000 after purchasing an additional 387,686 shares during the last quarter. Finally, National Bank of Canada FI lifted its holdings in TELUS by 7.2% during the 1st quarter. National Bank of Canada FI now owns 21,461,769 shares of the Wireless communications provider’s stock worth $345,330,000 after buying an additional 1,438,904 shares in the last quarter. Institutional investors own 49.40% of the company’s stock.

TELUS Stock Down 0.3 %

Shares of TELUS stock opened at $15.69 on Wednesday. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.61 and a current ratio of 0.69. TELUS Co. has a 52-week low of $14.63 and a 52-week high of $19.14. The business’s 50 day simple moving average is $16.32 and its 200 day simple moving average is $16.12. The firm has a market cap of $23.40 billion, a PE ratio of 33.37, a P/E/G ratio of 2.41 and a beta of 0.75.

TELUS (NYSE:TU) (TSE:T) last announced its quarterly earnings data on Friday, November 8th. The Wireless communications provider reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.11. TELUS had a return on equity of 8.80% and a net margin of 4.56%. The company had revenue of $5.10 billion during the quarter, compared to analysts’ expectations of $3.69 billion. During the same quarter last year, the company earned $0.19 EPS. TELUS’s revenue for the quarter was up 1.8% compared to the same quarter last year. On average, analysts predict that TELUS Co. will post 0.73 earnings per share for the current fiscal year.

TELUS Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Wednesday, December 11th will be given a $0.297 dividend. This represents a $1.19 dividend on an annualized basis and a dividend yield of 7.57%. The ex-dividend date is Wednesday, December 11th. This is an increase from TELUS’s previous quarterly dividend of $0.28. TELUS’s dividend payout ratio (DPR) is 244.69%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on TU. Scotiabank upgraded TELUS from a “sector perform” rating to a “sector outperform” rating in a research report on Monday, October 28th. StockNews.com raised shares of TELUS from a “sell” rating to a “hold” rating in a research note on Friday, September 6th. Finally, Canaccord Genuity Group lowered shares of TELUS from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 6th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $26.00.

TELUS Profile

TELUS Corporation, together with its subsidiaries, provides a range of telecommunications and information technology products and services in Canada. It operates through Technology Solutions and Digitally-Led Customer Experiences segments. The Technology Solutions segment offers a range of telecommunications products and services; network services; healthcare services; mobile technologies equipment; data services, such as internet protocol; television; hosting, managed information technology, and cloud-based services; software, data management, and data analytics-driven smart food-chain and consumer goods technologies; home and business security; healthcare software and technology solutions; and voice and other telecommunications services, as well as mobile and fixed voice and data telecommunications services and products.